-InVitro International Ticker: INVI Page 1 of 10
Complete Financials: June 1997 Exchange OTC
FY END SEP
ISSUE DATA (05/01/98) PER SHARE DATA RATIOS
Price $ 0.06 EPS (TTM) $ -0.12 P/E (TTM) NM
52W High $ 0.70 Div. Rate $ NA Yield 0.00 %
52W Low $ 0.05 Book Value $ 0.07 Price/Book 0.88
Shrs Out 14.03 Mil Cash $ 0.01 ROE (TTM) -102.82 %
Float 8.70 Mil Rev (TTM) $ 0.06 ROA (TTM) -86.20 %
Mon. Vol 0.00 Mil Curr. Ratio 4.44
Beta -0.06 LT Dbt/Eqty 0.00
BRIEF: INVI develops, manufactures and markets test kits to
evaluate the potential level of irritancy or corrosivity of
substances posed on human eye and/or skin tissue. For the 9
mos. ended 6/97, revenues fell 26% to $604K. Net loss fell
17% to $1.1M. Revenues reflect lower sales of the Company's
safety testing products. Lower loss reflects a decrease in
R&D costs due to reductions in personnel and decreased
expenditures for research materials and supplies.
-InVitro International QUARTERLY SUMMARY Page 2 of 10
HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars)
REVENUE 1994 1995 1996 1997
1st Qtr DEC 545 329 225 259
2nd Qtr MAR 343 214 260 164
3rd Qtr JUN 323 263 327 181
4th Qtr SEP 464 331 251
EPS (U.S. Dollars per share)
1st Qtr DEC -0.090 -0.060 -0.040 -0.040
2nd Qtr MAR -0.080 -0.050 -0.040 -0.023
3rd Qtr JUN -0.090 -0.053 -0.030 -0.020
4th Qtr SEP -0.110 -0.060 -0.040
9/91, YE changed from FEB to SEP. FY'91 is the 7 mos. ended
9/91. Name changed 4/92 from Ropak Laboratories. 9/93, Co.
issd. 3M shares of Com. Stk. upon exercise of options.
DIVIDENDS EMPLOYEES
Last Dividend Decl. $ NA # Employees 16
Last Div Ex-Date NA Sales/Employee (TTM) 53,438
Last Div Pay Date NA Net. Income/Empl.(TTM) NM
-InVitro International COMPANY COMPARISON Page 3 of 10
TO THE MEDICAL SUPPLY AND S&P 500 AGGREGATES
VALUATION RATIOS: COMPANY INDUSTRY S&P 500
P/E Ratio NM 37.98 29.57
Dividend Yield 0.00 0.85 1.41
Price to Tangible Book 0.88 11.83 10.44
Price to Book 0.88 8.22 7.29
Price to Free Cash Flow -0.44 55.93 41.19
GROWTH STATISTICS:
3 Yr Rev Growth -16.94 18.88 14.28
3 Yr EPS Growth NM 16.36 15.65
3 Yr Div Growth NM 16.86 10.88
Reinvestment Rate 100.00 78.67 67.37
PROFITABILITY RATIOS:
Net Profit Margin NM 11.82 10.26
Return on Equity -102.82 19.29 22.39
Interest Coverage NM 10.78 10.50
FINANCIAL STRENGTH RATIOS:
Current Ratio 4.44 2.72 1.42
LT Debt to Equity 0.00 0.32 0.79
Total Debt to Equity 0.00 0.43 1.01
-InVitro International TRADING & PRICE PERFORMANCE Page 4 of 10
INSTITUTIONAL OWNERSHIP INSIDER TRADING (Prev. 6 months)
% Shares Out. Owned 0.06 % Net Insider Trades 0
# of Institutions 3 # Buy Transactions 0
Total Shs Held 0.009 Mil # Sell Transactions 0
3 Mo. Net Purch. -0.020 Mil Net Shares Bought 0.000 Mil
3 Mo. Shs Purch. 0.000 Mil # Shares Bought 0.000 Mil
3 Mo. Shs Sold 0.020 Mil # Shares Sold 0.000 Mil
4 Week Price % Change NA% 4 Week Rel. Price % Change NA%
13 Week Price % Change NA% 13 Week Rel. Price % Change NA%
26 Week Price % Change NA% 26 Week Rel. Price % Change NA%
52 Week Price % Change NA% 52 Week Rel. Price % Change NA%
YTD Week Price % Change NA% YTD Week Rel. Price % Change NA%
MARKET MAKERS: HRZG TSCO FAHN NITE PRUS
-InVitro International EQUITY, OFFICERS & ADDRESS Page 5 of 10
Common Stock no Par, 8/97, 40M auth., 14,028,300 issd.
Insiders own approx. 16%. Ropak Corp. owns approx. 22%. IPO
5/91, 1,955,000 units (1 sh. Common & 1 Warrant) @ $4.50 by
Stratton & Oakmont, Inc. The Co. reports no ST or LT debt.
4/91, 3-for-4 reverse stock split. *5/97, Delisted from
NASDAQ.
OFFICERS: Irwin Gruverman, Chmn., W. Richard Ulmer, Pres./
CEO/CFO, Richard Vitelle, VP-Fin., William Curtis, Secy.,
Kristina A. Parker, Contr./CAO. TRANSFER AGENT: American
Stock Transfer and Trust Co. Company incorporated 1985 in
CA. Direct inquiries to: William Curtis, Secy.
ADDRESS & PHONE NUMBERS
InVitro International
16632 Millikan Avenue
Irvine, CA 92606
PHONE: (714) 851-8356
FAX: (714) 851-0563
-InVitro International ANNUAL INCOME STATEMENT Page 6 of 10
(Thousands of U.S. Dollars)
12M 09/30/93 12M 09/30/94 12M 09/30/95 12M 09/30/96
Revenues 1,855 1,676 1,137 1,063
Related Party Reven. 0 0 0 0
Total Revenue 1,855 1,676 1,137 1,063
Cost of Revenue 1,092 1,085 794 660
Sell./Gen./Admin. 3,395 4,016 2,555 2,144
Research/Development 905 1,205 594 232
Dist./Royalty Agrmt. 0 0 0 0
Equipment Sale Prov. 0 0 145 0
Total Expenses 5,392 6,306 4,088 3,036
Operating Income -3,537 -4,630 -2,951 -1,973
-InVitro International ANNUAL INCOME STATEMENT Page 7 of 10
(Thousands of U.S. Dollars)
12M 09/30/93 12M 09/30/94 12M 09/30/95 12M 09/30/96
Operating Income -3,537 -4,630 -2,951 -1,973
Interest Expense -267 -2 0 0
Other Income 108 189 188 74
Income Before Taxes -3,696 -4,443 -2,763 -1,899
Income Taxes 0 0 0 0
Income After Taxes -3,696 -4,443 -2,763 -1,899
Pri/Bas EPS Ex. XOrd -0.564 -0.379 -0.231 -0.153
Extra. Item 0 0 0 0
Pri/Bas EPS In. XOrd -0.564 -0.379 -0.231 -0.153
Primary/Basic Avg Sh 6,547.58 11,716.10 11,969.68 12,386.89
Common Dividends/Shr 0.0000 0.0000 0.0000 0.0000
-InVitro International SELECTED INCOME STATEMENT Page 8 of 10
(Thousands of U.S. Dollars)
QUARTERS YEAR TO DATE
3M 06/30/96 3M 06/30/97 9M 06/30/96 9M 06/30/97
Revenue 327 181 812 604
Operating Expenses 684 382 2,197 1,728
Operating Income -357 -201 -1,385 -1,124
Non-Operating Income 16 3 55 25
Non-Operating Expenses 0 0 0 0
Income Before Taxes -341 -198 -1,330 -1,099
Income Taxes 0 0 0 0
Adjustments to Income 0 0 0 0
Inc. for Primary EPS -341 -198 -1,330 -1,099
Pri/Bas EPS Ex. XOrd -0.028 -0.014 -0.111 -0.078
Disc Opns + Xord Items 0 0 0 0
Pri/Bas EPS In. XOrd -0.028 -0.014 -0.111 -0.078
Primary/Basic Avg Sh 12,372.92 14,028.30 12,104.09 14,028.30
Dilutd EPS Excl XOrd -0.028 -0.014 -0.111 -0.078
Dilutd EPS Incl XOrd -0.028 -0.014 -0.111 -0.078
Common Dividends/Shr 0.000 0.000 0.000 0.000
-InVitro International SELECTED BALANCE SHEET Page 9 of 10
(Thousands of U.S. Dollars)
YEAR ENDING QUARTER ENDING
09/30/95 09/30/96 06/30/96 06/30/97
Cash & ST Investments 2,156 1,209 1,719 169
Receivables 190 146 207 175
Total Current Assets 2,606 2,028 2,306 857
LT Investments 0 0 0 0
Fixed Assets 322 221 245 161
Total Assets 3,153 2,415 2,741 1,151
Accounts Payable 355 174 292 67
ST Debt & Curr LTD 0 0 0 0
Total Current Liab. 355 351 362 193
LT Debt & Cap Leases 0 0 0 0
Total Liabilities 355 351 362 193
Preferred Stock 0 0 0 0
Common/Paid In Capital 23,864 24,811 24,782 25,036
Retained Earnings -21,129 -23,028 -22,460 -24,127
Total Equity 2,798 2,064 2,379 958
Shares Outstanding 11,970 13,228 13,228 14,028
-InVitro International SELECTED STMT OF CASH FLOWS Page 10 of 10
INDIRECT METHOD (Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
12M 09/30/95 12M 09/30/96 9M 06/30/96 9M 06/30/97
RSTD06/30/97
Net Income -2,763 -1,899 -1,330 -1,099
Depreciation & Amort. 226 187 77 84
Non Cash Items 145 29 0 0
Total Operating CF -2,685 -1,789 -1,255 -1,255
Capital Expenditures -108 -119 -39 -4
Total Investing CF 907 922 992 -4
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 0 918 0 225
Net Borrowings 0 0 0 0
Total Financing CF 0 918 0 225
Exchange Rate Effect -2 -7 -4 -6
Net Change In Cash -1,780 44 -267 -1,040
Oper CF-Cap Exp-Div Pd -2,793 -1,908 -1,294 -1,259 |
